The Fundamental FOREX Blog

On Monday, 08-30-10, at 9:30 PM ET the AUD Retail Sales m/m report was released.

Also, the AUD Building Approvals report was released.

Along with 3 other reports:

AUD Current Account
AUD Private Sector Credit m/m
JPY Average Cash Earnings y/y

The AUD Retail Sales m/m , Building Approvals and Current Account reports are released by the Australian Bureau of Statistics.

The AUD Private Sector Credit m/m report is released monthly by the Reserve Bank of Australia.

The JPY Average Cash Earnings y/y is released monthly by Ministry of Health, Labour and Welfare.

I did a “preview” post of these reports on Sunday, 08-29-10, click here to check it out.

The AUD Retail Sales m/m and Building Approvals reports are released by the Australian Bureau of Statistics.

Lets take a look at what happened:

AUD Building Approvals m/m Stats:

Previous = -3.3%—————revised= -3.4%

Forecast = -0.6%

Actual = 2.3%

AUD Retail Sales m/m Stats:

Previous = 0.2%—————revised= 0.4%

Forecast = 0.4%

Actual = 0.7%

Here is how I was set up and what happened:

AUD-9-30PM-ET-08-30-10
Looking for a 1.0% difference
Actual > Forecast = Good for AUD
AUD Building Approvals m/m
——actual———-forecast———-previous
_______________-0.6%________-3.3%
______2.3%_____ -0.6%_______ -3.4%
Out at 1.6% or higher – BUY AUD/JPY
Out at 1.1% or lower – SELL AUD/JPY
Good – “actual” came out higher then “forecast” by 2.9%
Good – “actual” came out higher then “previous” by 5.6%
Good – “actual” came out higher then revised “previous” by 5.7%

AUD Retail Sales m/m
________________0.4% ________0.2%
______0.7%______ 0.4%________ 0.4%
Good – “actual” came out higher then “forecast” by 0.3%
Good – “actual” came out higher then “previous” by 0.5%
Good – “actual” came out higher then revised “previous” by 0.3%

It does not appear these reports were in any conflict! – I did enter 2 trades of  the currency pair AUD/JPY – both lost!!  The currency pair AUD/NZD moved in the right direction.

Here are the charts:

(AUD/JPY)

a one minute AUD/JPY currency chart

This AUD/JPY currency pair move up 1st 3 minutes about 33 PIPS – right direction
Moved down next 47 minutes about 45 PIPS – wrong direction
2 losing trades here!!

(AUD/NZD)

a one minute AUD/NZD currency chart

This AUD/NZD currency pair moved up for 30 minutes about 34 PIPS – right direction
Ranged!
This was the best currency pair to trade!

(AUD/USD)

a one minute AUD/USD currency chart

This AUD/USD currency pair moved up 1st 3 minutes about 31 PIPS – right direction
Moved down next 34 minutes about 28 PIPS - wrong direction

(EUR/AUD)

a one minute EUR/AUD currency chart

This EUR/AUD currency pair moved down 1st 3 minutes about 42 PIPS – right direction
Moved up next 34 minutes about 36 PIPS – wrong direction

The next scheduled release of AUD – Building Approvals report is on Monday, 10-04-10 at 9:30 PM ET.

The next scheduled release of AUD – Retails Sales report is on Monday, 10-04-10 at 9:30 PM ET.

I will probably post a “preview” a day or two prior.

Past performances are not an indication of future results

I will write a “follow up” post soon after this release.

So—Stay tuned!